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October 10, 1999

Damgaard Shares See Strong Demand

By CBR Staff Writer

An offering of 3 million shares in Damgaard Holding A/S, the Danish ERP software group, was more than 16 times oversubscribed even though the shares were priced at DK 320, right at the top of the suggested range. Strong demand came from investors in both Denmark and overseas. This suggests that the prediction by Baan CEO Mary Coleman that her company would squeeze smaller ERP vendors such as Damgaard in the coming year (CI No 3,753) has not been taken too seriously.

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